In May 2016, the Obama Administration announced new regulations that would increase the number of American entitled to receive time-and-a-half overtime pay. Salaried workers who earn up to $46,476 per year are now entitled to earn time-and-a-half pay when they work more than 40 hours per week. The previous regulations, issued in 2004, set the threshold for overtime pay at $23,660. The Labor Department estimates that 4.2 million workers will become newly eligible for overtime pay under the new regulations. Proponents argue that the rule is necessary due to inflation and note that only 7% of salaried workers currently qualify for overtime pay in 2015, down sharply from 60% in 1975. Opponents argue that the new rules will hurt employers and incentivize them to cut their employee’s hours. Actually, there should be no limitations on how many people a company holds or time and a half they give them. Time and a half stagnates hiring of other people who should not be unemployed, in saying the unemployment rate should be 0 and maintained at that as much as possible.
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